DXY Will Go Down! Sell!

May 15

Please, check our technical outlook for DXY.

Time Frame: 4h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish

The market is approaching a significant resistance area 104.322.

Due to the fact that we see a positive bearish reaction from the underlined area, I strongly believe that sellers will manage to push the price all the way down to 103.929 level.

P.S
Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback.

Like and subscribe and comment my ideas if you enjoy them!

May 16

Comment

I evaluated the trade and decided to keep it running!